DavoodWadi
Long

Using Bar Counts To Initiate A Long Position In USDCAD

FX:USDCAD   U.S. Dollar/Canadian Dollar
79 2 5
We've been sitting in congestion for the last 21 (Fibonacci) hours while USDCAD             was struggling to go down but failed each time it tried to sustain a daily new low.

Now we have an Impulsive bearish candle failure followed by another Impulsive Bullish candle as our entry trigger.

I'm also using bar counts to pinpoint a potential reversal time which hits right at the candle reversal formation.
Stop loss?
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That last bar looks great.
+1 Reply
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